HS Code:
The category valued at $2.30/kg or more but less than $2.40/kg (specific HS Code not provided) generally pertains to a niche segment of goods within a broader product classification, likely related to agricultural products, processed foods, or raw materials. This price bracket often indicates mid-tier quality or specific market positioning, balancing cost and value. Goods in this range are traded globally with varying demand based on regional preferences, production capabilities, and economic conditions. Trade in this category is influenced by factors such as seasonal production, currency fluctuations, and international trade agreements.
Total Trade Volume
$1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database
$350 million USD
29.2% of total trade of total trade
Increasing
$280 million USD
23.3% of total trade of total trade
Stable
$150 million USD
12.5% of total trade of total trade
Increasing
$100 million USD
8.3% of total trade of total trade
Decreasing
$80 million USD
6.7% of total trade of total trade
Stable
Average Rate
7.5%
Highest Rate
15% (applied by certain developing economies to protect local markets)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand in emerging markets
Increased export opportunities for major producers like Brazil and the US due to growing middle-class consumption in Asia and Africa.
2021-2022
Shift towards sustainable sourcing
Buyers are prioritizing environmentally certified products, pushing exporters to adopt sustainable practices, which may increase production costs.
2020-2022
Impact of geopolitical tensions
Trade disruptions due to sanctions and export bans have affected supply chains, particularly in Europe and parts of Asia.
2022
A regional trade agreement among key Asia-Pacific countries has reduced tariffs for goods in this price category, boosting trade volume by an estimated 10%.
March 2023
Increased market access for exporters like Australia and India, potentially shifting trade dynamics in the region.
The US introduced temporary import quotas on this category to protect domestic producers facing oversupply issues from international competitors.
July 2023
Reduced trade volume for exporters targeting the US market, prompting redirection of goods to alternative markets like the EU.
The European Union has mandated stricter sustainability certifications for imports in this category to align with its Green Deal objectives.
January 2023
Potential short-term trade decline for non-compliant exporters, with long-term benefits for those adopting sustainable practices.